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Petronet LNG Ltd has reported a Rs 499.79-crore consolidated profit for the first quarter of financial year 2020-2021. This is lower than the Rs 561.94 crore profit reported in the corresponding quarter of the previous financial year.
There was a sharper decline in consolidated total revenue of the company. It fell to Rs 4,951.95 crore in the quarter ending June 30, 2020, down from Rs 8,717.85 crore in the quarter ending June 30, 2019.
The fall in profit was muted by lower total tax expense that stood at Rs 176.37 crore in the quarter under review, down from Rs 277.65 crore in the comparable quarter of the previous fiscal.
Shares of the company closed 2.13 per cent lower at Rs 254.45 a scrip on the BSE.
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